What are some special budgets from recent years?
1. 921 Earthquake Post-Disaster Reconstruction Special Budget (2001)
2. The Special Budget of Overall Adjusting and Managing the Keelung River Drainage (Initial Plan) (2002-2005)
3. SARS Control and Relief Special Budget (March 1, 2003-December 31, 2004)
4. Expanding Investment in Public Construction Special Budget (2004-2008)
5. Flood-Prone Area Management Plan Special Budget (2006-2013)
6. Shihmen Reservoir and Its Catchment Area Management Plan Special Budget (2006-2011)
7. The Special Budget of Distributing Consumption Vouchers For Revitalizing Economy (2009)
8. The Special Budget of Expanding Public Construction for Revitalizing Economy
9. Post-Typhoon Morakot Reconstruction Special Budget (2009-2012)
What is a special budget?
Within the budget system, apart from the foregoing central government general budget and subordinate unit budgets routinely compiled during each fiscal year, budgets compiled outside the general budget in response to major emergency circumstances are termed special budgets. In accordance with Article 83 of the Budget Act, a special budget outside of the annual general budget may be submitted by the Executive Yuan in any of the following circumstances:
1. National defense emergency facilities or war.
2. Major national economic event.
3. Major calamities.
4. Major political events taking place irregularly or once every few years.
What is an additional budget?
When an agency finds that its legal budget does not meet its real needs, and the situation could not be solved by interaccount using of allocations and appropriating reserved fund, it may submit an additional budget to the Executive Yuan. In accordance with Article 79 of the Budget Act, each and every government agency may apply for an additional annual expenditure budget under any of the following circumstances:
1. Increase of operational work or business in accordance with the law, thereby causing an increase in expenses.
2. Newly added agency established in accordance with the law.
3. The expenses of the business being handled exceeds the legal budget due to a major incident.
4. Where an additional budget is required under relevant laws and regulations.
What are some additional budgets from recent years?
In 2008, in order to increase investment in local public construction, stabilize consumer prices, and stimulate the domestic economy, the additional budget proposal was drafted with additional expenditures of NT$19.6 billion, an additional revenues of NT$45.5 billion, recording a net additional NT$25.9 billion, and funded by an equal amount of revenues. The budget proposal passed the third reading in the Legislative Yuan on July 17, 2008. In 2011, in order to adjust the Remuneration of military, public and teaching personnel, respond to the implementation of a new assistance system under the Social Assistance Act, and accommodate the 12-year basic education policy, the additional budget proposal was drafted with additional annual expenditures of NT$18.6 billion, funded by an equal amount of revenues, and passed the third reading in the Legislative Yuan on June 10, 2011.
What are the government's budgetary procedures?
1. Preparation of the annual general budget proposal
(1) The Executive Yuan first determines an administrative policy, central and local government budget compilation principles, and a general budget preparation handbook (8-9 months before the start of the fiscal year)
(2) The Executive Yuan approves mid-term program budgeting revenue and expenditure estimates and each administrative agency’s mid-term estimated expenditure quota (7 months before the start of the fiscal year)
(3) Each administrative agency and its subordinate agencies compiles budgetary estimates within the scope of its estimated Expenditure quota, including revenues, expenditures, and repayment of debt (6 months before the start of the fiscal year).
(4) The Executive Yuan reviews the budgetary estimates of each agency, and approves each agency's revenues, expenditure budget, repayment of debt, borrowing, and use of the surplus from the previous fiscal year (5 months before the start of the fiscal year)
(5) Each Administrative agency and its subordinate agencies compile a budget proposal within the scope of its annual revenue and expenditure quota for submission to the Executive Yuan (4 months before the start of the fiscal year)
(6) The Executive Yuan compiles a general budget proposal (completed 4 months before the start of the fiscal year)
2. The general budget proposal is sent to the Legislative Yuan (submitted 4 months before the start of the fiscal year)
3. The Legislative Yuan reviews the general budget proposal (resolution 1 month before the start of the fiscal year)
4. The president publicly announces the general budget (announcement 15 days before the start of the fiscal year)
5. Each agency implements legal budget (from start to end of the fiscal year)
6. Compilation of actual revenue and expenditure data after end of fiscal year (within two months after end of fiscal year)
7. Executive Yuan compiles a general financial statement, which is sent to the National Audit Office
for review (2-6 months after end of fiscal year)
What is a legal budget?
After a general budget proposal has been reviewed by the Legislative Yuan, the president is requested to publicly announce the budget, which thereupon passes into law, and is termed a legal
How does the Legislative Yuan review a general budget proposal?
1. After a general budget proposal has been sent by the Executive Yuan to the Legislative Yuan, the Legislative Yuan regularly invites the Executive Yuan premier, minister of directorate general of budget, accounting and statistics, and minister of finance to participate in deliberation in a non-voting capacity. After reporting administrative plans, revenues and the expenditure budget compilation process, and allowing legislators to interrogate concerning administrative plans and general budgetary matters, the general budget proposal is turned over to relevant committees for review.
2. After reviewed by the committees, the finance committee summarizes and integrates the committees' review results, and drafts a written general report submitted to the meeting of the Legislative Yuan for second and third reading procedures. A resolution is passed one month before the start of the fiscal year, and the president is requested to publicly announce the budget.
What is a general budget proposal?
1. Because a government budget is a public financial plan, after compilation by the government's administrative authority, it must be reviewed and passed by the legislative authority. The administrative authority may implement a budget only after authorization by the Legislative Yuan.
2. When the Executive Yuan submits a general budget to the Legislative Yuan for review, it is termed a general budget proposal prior to the completion of statutory procedures.
What is a financing amount?
Any deficit between the foregoing revenues and expenditures, together with the repayment of debt (i.e., repayment of principal), is the amount that must be financed, which is usually funding by borrowing (i.e., issuance of bonds or borrowing) and using the surplus from the previous fiscal year.
What is annual revenue? What is annual expenditure?
1. Each government agency's disbursement plans implemented for the purpose of government affairs during any one fiscal year, but not including repayment of debt, constitute its expenditure budget.
2. The revenues that must be obtained by the government to pay for the foregoing disbursement plans during an fiscal year, but not including borrowing and using the surplus from the previous fiscal year.
What is a general budget?
The general budget is the entire budget the government compiles in each fiscal year, covering annual revenues, annual expenditures, raising of debt, revenue from surplus of the previous year and debt repayment.